Wärtsilä and V.Ships agree to offer joint ship and technical management services

Wartsila Corporation
  • Trade press release
19 November 2007 at 2:01 AM E. Europe Standard Time

Wärtsilä Corporation, Trade and Technical Press Release, 19 November 2007

Wärtsilä, the leading supplier of ship machinery, propulsion, manoeuvring solutions and services and V.Ships the world’s leading ship manager today agreed to cooperate on the provision of a broad spectrum of marine technical services to third parties in the marine market.

Drawing on Wärtsilä’s strengths as a supplier of highly rated ship machinery and systems and V.Ships’ proven success at recruiting and training senior officers and technicians, the partners plan to offer an integrated portfolio of services that encompasses the full lifecycle of ship’s machineries at competitive cost.

The new partnership offering of Ship and Technical Management Services embrace technical supervision, machinery maintenance planning, conditioned based maintenance and planning, software updates, training programs, spare parts and labour, logistics and accounting for technical management.

The shortage of skilled labour and the increasing complexity of ship machinery represent a challenge for the marine industry. Wärtsilä and V.Ships’ partnership is a strong alliance of expertise that will provide skilled labour, who are continuously trained and supported by state of the art logistic and management organisation.

“Our alliance with Wärtsilä is another good example of how we are realising one of our core strategies: to work closely with key business partners to develop innovative service offerings for existing clients and to attract new customers. After many years of managing ships powered by its equipment, we know Wärtsilä well. Our two companies are highly compatible and well-suited for collaboration. This follows closely our announcement in October of V.Funds, our strategic ship finance partnership with Merrill Lynch,” commented Donald Anderson, CEO of V.Group, parent of V.Ships.

“Capitalising on its expertise in several areas and strengths in advance monitoring and management methods, Wärtsilä ensures highest quality of technical services and crew training to the latest technologies and standards. The partnership with V.Ships will guarantee the best technical and economical performances of the ship equipment and peace of mind for customers,” said Mr Tage Klockars, Director Wärtsilä Operations & Management Services.

“Through this agreement Wärtsilä reaches new height in technical management services for marine applications and creates new business opportunities. It is aligned with our vision to become the most valued business partner of all our customers and demonstrates our steadfast efforts to provide the best services in the industry during the whole lifecycle,” added Tage Blomberg, Group VP, Wärtsilä Corporation, Services.

Contact person at Wärtsilä: Ms Eeva Kainulainen, Vice President, Corporate Communications, tel. +358 40 568 0591
Contact person at V.Ships: Ms Elizabeth Canna, Group Communication Director, tel. +41 44 363 8110 or +41 79 691 3764

Notes to the editor:

About Wärtsilä Corporation
Wärtsilä enhances the business of its customers by providing them with complete lifecycle power solutions. When creating better and environmentally compatible technologies, Wärtsilä focuses on the marine and energy markets with products and solutions as well as services. Through innovative products and services, Wärtsilä sets out to be the most valued business partner of all its customers. This is achieved by the dedication of more than 15,000 professionals manning 130 Wärtsilä locations in close to 70 countries around the world. In 2006 the turnover of Wärtsilä amounted to EUR 3,2 billion and the company is listed on the Nordic Stock Exchange, Helsinki. The headquarters of Wärtsilä are located in Helsinki, Finland.

About V.Ships
V.Ships is the marine services business of V.Group which also includes V.Investments and V.People Energy. Since its founding in 1984 as a ship management company, V.Group has grown its geographic reach and range of services. Today, it provides ship management and related services to over 900 vessels, specialises in personnel recruitment, management and training for the marine and energy sectors and offers commercial and financial services including ship broking and ship finance.